惠誉:内地寿险行业明年回升 惟料险企利润率受压
惠誉发表报告指,中国寿险行业明年将自今年低基数回升,主要受惠於年长人口比例提升,及市场对保障性产品的需求增加,新型肺炎疫情及新监管政策亦提升市场对长期健康保险产品及服务的需求。
报告指,行业转向长期保险产品、期缴,及利润率差距较大,及较具保障成份的产品,对大型保险企业有利,惟利润率仍将受低国债利率拖累投资收益所影响。
另外寿险公司偿付率然稳健,在政策要求下有足够缓冲,惟在投资风险提升的情况下或会有所下降。中银保监放宽股票类投资上限,加上低息率长期维持,亦将增加险企投资於股票市场的意慾。
该行对中国寿险行业前景「稳定」,对险企评级展望「负面」,指资本场波动、低息环境,及潜在拨备亏损将令险企利润收窄。
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